Budget and Economic Statement Implementation Act, 2007 (S.C. 2007, c. 35)

Marginal note:Day of election

3.96 An election under this Part is deemed to have been made on the day on which the election is received by the Minister.

Marginal note:Deeming — final computation

3.97 For the purpose of the Canada-Newfoundland Atlantic Accord Implementation Act and the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act, the final computation of the amount of the fiscal equalization payment for a fiscal year is deemed to have been made on March 31 of that fiscal year.

Marginal note:Underpayment

4.4 If the Minister determines that the Minister has underpaid any amounts payable to a territory under this Part, the Minister may, within the prescribed time and in the prescribed manner, pay that territory an amount equal to the underpayment.

Marginal note:Overpayment

4.5 If the Minister determines that the Minister has overpaid any amounts paid to a territory under this Part, the Minister may recover the amount of that overpayment

• (a) within the prescribed time and in the prescribed manner, from any amount payable under this Act to that territory; or

• (b) from that territory as a debt due to Her Majesty in right of Canada.

• (a.2) providing for the provincial or territo-rial revenues that are derived from, or are deemed to be derived from, the revenue sources referred to in each paragraph of the definition “revenue source” in subsections 3.5(1), 3.9(1) and 4(1);

• (a.3) amending the definition “revenue source” in subsection 3.9(1) by dividing a revenue source set out in a paragraph of that definition into two or more separate revenue sources;

• (b) respecting the calculation and payment to a province of advances on account of any amount that may become payable to the province under this Act, an administration agreement, a reciprocal taxation agreement or a sales tax harmonization agreement and the adjustment, by way of reduction or set off, of other payments to the province because of those advances;

• (b.1) respecting the recovery of overpayments;